Daily Forecast - 25 July 2017
Eurostoxx September Contract
EuroStoxx first resistance at 3458/62 then strong resistance at 3477/84. Shorts need stops above 3495. An unexpected break higher targets 3515/18.
Failure to beat first resistance at 3458/62 3443/40 targets before support the June/July low at 3428/25. This held perfectly again yesterday but a break lower meets 23.6% Fibonacci support at 3411/08 which mark a low for correction, but longs need stops below the gap at 3391/84.
Ftse September Contract
FTSE just held good support at 7315/10 but meets resistance at 7350/54. A high for the day possible but further gains meet a selling opportunity at 7375/80, with stops above 7395.
Minor support at 7310/05 but below here 7290 targets 7250 before a retest of the 7236/32 low.
Dax September Contract
Dax bounce meets first resistance at 12255/265 but the best selling opportunity today is at 12320/330. Shorts need stops above 12370. A break higher however targets the next selling opportunity at 12440/450. Shorts need stops above 12500.
Failure to beat first resistance at 12255/265 re-targets 12180 before the 12138/133 low...then that gap to fill at 12120/115. We are just starting to look oversold but if we continue lower look for support at 12060/050 which is probably the best chance of a low for the correction. Try longs with stops below 11990.
The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.
Recommended Content
Editors’ Picks
AUD/USD failed just ahead of the 200-day SMA
Finally, AUD/USD managed to break above the 0.6500 barrier on Wednesday, extending the weekly recovery, although its advance faltered just ahead of the 0.6530 region, where the key 200-day SMA sits.
EUR/USD met some decent resistance above 1.0700
EUR/USD remained unable to gather extra upside traction and surpass the 1.0700 hurdle in a convincing fashion on Wednesday, instead giving away part of the weekly gains against the backdrop of a decent bounce in the Dollar.
Gold keeps consolidating ahead of US first-tier figures
Gold finds it difficult to stage a rebound midweek following Monday's sharp decline but manages to hold above $2,300. The benchmark 10-year US Treasury bond yield stays in the green above 4.6% after US data, not allowing the pair to turn north.
Bitcoin price could be primed for correction as bearish activity grows near $66K area
Bitcoin (BTC) price managed to maintain a northbound trajectory after the April 20 halving, despite bold assertions by analysts that the event would be a “sell the news” situation. However, after four days of strength, the tables could be turning as a dark cloud now hovers above BTC price.
Bank of Japan's predicament: The BOJ is trapped
In this special edition of TradeGATEHub Live Trading, we're joined by guest speaker Tavi @TaviCosta, who shares his insights on the Bank of Japan's current predicament, stating, 'The BOJ is Trapped.'